The Modi government is going to reinvest the benami property after linking all types of accounts to the basis of PAN card and other financial transactions. All preparations for this have been completed by the government, only the formal announcement is left. It may be that Prime Minister Narendra Modi himself announced this year before the budget session.
Aadhaar needed to buy property: Aadhaar numbers can be made necessary for purchasing property. After linking the bank account, PAN card and passport with the Aadhaar, it is necessary to buy a house, shop or sell it.
Property Registration will be Electronic: Government is now going to register property in the electronic way across the country. For this, the Government may amend section 32 and 32A of the Property Act 1908. The central government has included the mandatory Aadhaar in the bill being brought for amendment in the pending Registration Act in the Rajya Sabha. This recommendation was made by the Standing Committee of Parliament, on which the Council of Ministers was formed for consideration.
Cabinet Approval to Rest: According to official sources, the Committee of Ministers had given its consent to make the Aadhaar verification mandatory. After this the revised draft of the Bill was drafted and sent to the Law Ministry, which has got the green signal. Now the bill will be sent for Cabinet approval.
Information of Power of Attorney also be given: In the absence of legal entitlement, someone takes possession of that property and then makes it with the forgery. Such fraudsters will also be caught by the investigating agencies easily and the land will be owned by the government.
Will not be able to Swap the Property: A person will know from the basis of the will, the contract, the power of attorney, the gift, transfer or exchange of land owned by the other person. It will be difficult to hide the deal with swaps.